Hassett: Markets Confident in Fed’s New Chair

The signal here is less about the Fed's next move than about the White House's willingness to publicly vouch for the central bank's leadership and its inflation-fighting credibility. That matters for rate-sensitive crypto and RWA markets, which trade heavily on the perceived independence and predictability of monetary policy. The open question is whether this confidence holds if inflation data and the Fed's own read diverge, and whether political endorsement of the Fed becomes a recurring feature of the policy backdrop.